VOV.VN - Retail prices of petrol and oil continued to witness an increase as of 3 p.m. on January 21 following the latest price review jointly conducted by the Ministry of Industry and Trade and the Ministry of Finance.
This marks the second consecutive hike in petrol prices this year and is the third in succession.
Accordingly, the price of E5RON92 biofuel recorded a rise of VND436 to a maximum of VND23,595 per litre, while the price of RON95-III edged up by VND484 to VND24,360 per litre.
The prices of diesel 0.05S and kerosene were capped at VND18,903 per litre and VND17,793 per litre, marking rises of VND664 and VND655 per litre, respectively.
Furthermore, Mazut 180CST 3.5S was sold at no more than VND16,993 per kilo, up VND631 per kilo compared to the previous retail price.
Under the new rules adopted in November, 2021, petrol prices would be regulated on the first, 11th, and 21st days of each month, putting prices into a 10-day cycle that is on par with global market fluctuations which may occur.
As of January 11, the global petroleum market has been significantly affected by several factors, including a reduction in supply sources and an overall shrinkage in exploitation output in some countries, which have fueled petrol prices in the world market.